Changing Of The Guard at Apple: Jobs Resigns As CEO

By Leena Rao
Apple’s Steve Jobs has resigned from his position as CEO and Apple (AAPL) has just announced that COO Tim Cook has taken over as CEO. As COO, Cook was responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and plays a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace. Before joining Apple, Cook was vice president of Corporate Materials for Compaq and was responsible for procuring and managing all of Compaq’s product inventory. Previous to his work at Compaq, Cook was the chief operating officer of the Reseller Division at Intelligent Electronics. Cook also spent 12 years with IBM, most recently as director of North American Fulfillment where heComplete Story »

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By Trefis:
Talk about big shoes to fill. Steve Jobs, who is widely recognized as the driving force behind Apple’s (NASDAQ:AAPL) culture of innovation that took it from near collapse to become an industry leader and one of the most respected brands globally, resigned from his role as CEO yesterday.

Apple Inc. (NASDAQ:AAPL) is set to become the first trillion dollar company in the near future. Yet its 54-year old Chief Executive Tim Cook made only $9.2 million last year in salary and additional compensation. The information was revealed on Thursday in a proxy statement by the company.

When Tim Cook took the helm at Apple in 2011, many saw the Alabama native and former company chief operating officer as a somewhat boring Steve Jobs stand-in. Wall Street worried whether Apple could continue its remarkable growth under a new boss, while Apple fans wondered if they could expect the same astronomical advancements in consumer technology they’d grown to love.

When Tim Cook took the helm at Apple in 2011, many saw the Alabama native and former company chief operating officer as a somewhat boring Steve Jobs stand-in. Wall Street worried whether Apple could continue its remarkable growth under a new boss, while Apple fans wondered if they could expect the same astronomical advancements in consumer technology they’d grown to love.

How does one follow in the footsteps of a genius? That’s the question Apple CEO Tim Cook has faced in the two years since his predecessor, revered Apple co-founder Steve Jobs, died after a long battle with cancer. Cook, a 52-year-old operational wizard from Robertsdale, Ala., took over as Apple CEO a few months before Jobs died on October 5th, 2011. His challenge has been to maintain the momentum at the world’s largest and most famous technology company, following a decade-long period of turn-around and innovation with few parallels in corporate history.

How does one follow in the footsteps of a genius? That’s the question Apple CEO Tim Cook has faced in the two years since his predecessor, revered Apple co-founder Steve Jobs, died after a long battle with cancer. Cook, a 52-year-old operational wizard from Robertsdale, Ala., took over as Apple CEO a few months before Jobs died on October 5th, 2011. His challenge has been to maintain the momentum at the world’s largest and most famous technology company, following a decade-long period of turn-around and innovation with few parallels in corporate history.